Larry Fink, chairman and CEO of BlackRock, reckons he’s found one of the reasons for the world’s troubles.
Comments just in from Wednesday’s Q3 earnings call:
“When the government focuses on short termism, when government focuses on blogs, government is not focusing on how to best prepare the economy over a long cycle, it becomes very difficult for investors to focus on the long term as well.”
BlackRock, the world’s largest money management fund, has $3,345bn assets under management, according to Wednesday’s Q3 earnings release.
Ah, Larry. Your spokesperson says you weren’t referring to any specific blogs but don’t worry, we don’t take it personally.
In fact, we’re a forgiving bunch here at FT Alphaville.
So governments of the world, let’s make Larry (2010 total compensation: $24m) happy and strike a deal: stop reading this blog for a few weeks, knuckle down, sort out that EFSF-thing, that climate-change-thing, that thing with the sons of Abraham, and whatever else is stuck on the to-do list due to our acerbic myopia.
Come back before Christmas and we’ll call it quits.
(H/T Dan McCrum.)
Goliath – The Economist